StockNews.com Begins Coverage on Macy’s (NYSE:M)

StockNews.com assumed coverage on shares of Macy’s (NYSE:M) in a report issued on Saturday. The firm issued a hold rating on the stock.

M has been the topic of several other research reports. Evercore ISI decreased their price target on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 16th. Morgan Stanley reduced their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research note on Wednesday, August 21st. Finally, Argus raised Macy’s to a “hold” rating in a research note on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.43.

Macy’s Trading Up 0.6 %

NYSE:M opened at $15.30 on Friday. The stock has a 50-day simple moving average of $15.34 and a 200-day simple moving average of $17.15. The stock has a market cap of $4.24 billion, a P/E ratio of 23.94 and a beta of 2.11. Macy’s has a 1 year low of $10.59 and a 1 year high of $22.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. The business had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. As a group, analysts anticipate that Macy’s will post 2.72 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Friday, December 13th. Macy’s’s dividend payout ratio is 107.81%.

Institutional Investors Weigh In On Macy’s

Institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its holdings in shares of Macy’s by 44.9% during the 1st quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company’s stock valued at $10,331,000 after purchasing an additional 160,093 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in Macy’s by 0.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock valued at $2,839,000 after acquiring an additional 877 shares during the period. Virtu Financial LLC bought a new position in Macy’s during the 1st quarter valued at about $1,043,000. WINTON GROUP Ltd increased its holdings in Macy’s by 96.4% during the 2nd quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock valued at $2,047,000 after purchasing an additional 52,337 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Macy’s by 6.4% in the first quarter. US Bancorp DE now owns 21,669 shares of the company’s stock valued at $433,000 after buying an additional 1,306 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.